Loan Comparison: 2.84% vs 6.5%
11922 Bellaire, Thornton, CO 80233 · 2bd/2ba · $265,000
List Price
$265,000
Assumable Rate
2.84%
Remaining Balance
$236,302
Equity Gap
$38,289
Loan Type
FHAAdjust Your Scenario
$13,250
$13,250$38,289
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,591/moAssumable @ 2.84% + gap loan
$1,169/moAssumed loan: $976/mo
Gap financing: $193/mo
$423less per month with the assumable
Your Savings on This Property
11922 Bellaire, Thornton · 2.84% FHA vs 6.5% conventional
$423
per month
$5,073
per year
$152,179
over 30 years
$161,770
interest saved
How gap financing works: The equity gap ($38,289) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,250, 5% of purchase price) and a second mortgage for the rest ($25,039 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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